Running hourly paid employees makes you rely on timesheet submissions, which sadly can be hustle to collect on time. Faster Payments give you more time to collect and still have staff paid on time.
To have people paid by Friday your payroll needs to be ready by Wednesday. Having a faster option to send payments unlocks more time to get everything ready, and have people paid on Friday easily.
The rise of temp staff workers in the country over the past few years has been yet another reason which has led payroll managers alike to rethink how payroll can be mapped to a set of different needs vs Bacs payroll. Faster Payments is a much better fit compared to three day payments, as most of those workers rely on their salary being deposited in their bank account rather sooner than later.
Bacs take weekends and nights off, whereas Faster Payments is working 24/7 around the clock. This gives you more options to have people paid off hours, rather than worrying with tight bank cut-off times or public holidays.
At Telleroo we are committed to end the era of slow payments and make them as effortless as consumer payments.